Digital economy

Digital economy

How young women are powering China’s consumption growth
Young women dubbed “little sisters” are fast becoming a driving force of spending in China, boosting the fortunes of companies selling everything from beer and liquor to streaming services and cosmetics. They are well-educated and are delaying or just skipping marriage and motherhood, giving them more money and the confidence to spend. Meanwhile, they see themselves reflected in popular TV shows – like the Chinese summer hit Sisters Who Make Waves – that encourage them to splurge on themselves. As such, they are an increasingly important segment of China’s female consumers, who among all age groups account for three out of four purchases in the world’s most populated country, according to a
Economic toll of coronavirus could be unlike anything we’ve seen before
Before the coronavirus crisis began rippling through the global economy, Susan Wang had big plans for 2020. Not only was she going to buy a new Apple MacBook and iPad, plus a projector so she could host friends for movies at home, but she was set on making a career move. “I was planning to change my job, but my headhunter told me that all recruitment had been postponed to the second quarter,” said the 27-year-old who works for a British company in Hong Kong. “Our headquarters in London has a plan for redundancy, too. It is better to save some money in case I get laid off.” As Covid-19 spreads across the world, sending stock markets reeling and prompting companies to slash jobs, Wang has bec